TARAMANI | Ramanujan IT City l U/C

[slakhs]

Why should they pay Tata, as they (govt / rlwy) can as well spend it directly on the stations no?

[satishanu]

Wow nice updates Kewl. Surely, Tata group is such a professional company as I see all of the construction workers wearing safety helmets and jackets.

Looks like construction is going in full swing with lots of construction workers.

[ChennaiIndian]

Awesome pace of work! Surely it will be ready by mid/end of 2011 or atleast some parts of it. It is good to see buildings next to TIDEL Park to fill in the "skyline gap" in that part of the city.

The apartments are having too many glass structures. These will add to the good asthetic appeal but I am not sure how this will ensure privacy.

[ferrari_fan]

Wow great progress!! And the apartments look seriously - can't wait to see them come up..

Thanks for the updates KB..

[chennaivaasi]

[ferrari_fan]

Wow - best construction updates yet!! Thanks..

[greatshankar]

Website: http://ramanujanitcity.com/

[ferrari_fan]

Construction update...





This one is really rising fast!!

[sridhar_n]

Thanks for the update, FF. I heard that Indian Hotels Ltd (under Taj banner) is planning a five star hotel in this SEZ.

[c_raja_ramesh]

This is from Ascendas....

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2)

[c_raja_ramesh]

This is from Ascendas....

1)



2)

[kvijayasundaram]

http://www.thehindubusinessline.com/...1150970300.htm

Tril Infopark Ltd, which is setting up the Rs 3,600-crore Ramanujan IT City, has obtained the Commerce Ministry's go-ahead for an international convention centre but will have to shelve the plans for a luxury hotel.

Tril Infopark, a joint venture between the Tata group and the Tamil Nadu Industrial Development Corporation Ltd (Tidco), is developing the IT, ITES SEZ with an integrated international convention centre. The Tata group in the project is represented by Tata Realty and Infrastructure Ltd, Indian Hotels Company Ltd and the Tata Realty Initiative Fund–1.

No to hotel

A luxury hotel was to come up linked to the convention centre in the non process area. The project promoters had strongly argued for permission from the Commerce Ministry to set up a hotel as a part of the project. But the BoA earlier this week, while clearing the convention centre, deferred the decision to clear the hotel project. It does not approve hotels in IT and ITES specific SEZs because of issues relating to duty benefits.

Tidco, the State Government agency which bid out the land for the project, had made it a precondition that the developers should set up the modern convention centre and a hotel to match it. It estimates that the IT Corridor, the 23-km stretch of road between Adyar, close to where Ramanujan IT City is coming up, and Siruseri to the south of Chennai, has over 20 million sq. ft of IT space representing a potential demand of about 900 rooms per night. Ramanujan IT City itself will have over 60 IT companies with 30,000 people and IT companies typically conduct 20 events a month with the participation of 100-1,500 people.
Also, in its case to the BoA, Tril had represented that there is not one 5-Star category hotel on the IT corridor and Chennai does not have an international standard convention centre.

Project to be reworked

According to sources in the know, Tril Infopark is to rejig the project with a premium end 100-unit serviced apartment instead of the hotel. This was one of the alternatives it had kept as a part of its initial plan. The serviced apartments are likely to be along the lines of the Taj Group's Taj Wellington Mews high end serviced apartments.

Work on the 1,500-seat convention centre is likely to start later this year.

Meanwhile, the first of the IT space is expected to be ready for fit out by January 2011 when the first block of about 500,000 sq ft will be completed. By mid 2011, a million sq ft will be available out of the total 3 million sq ft of IT space planned. The revival in the IT sector has contributed to a strong pipeline of enquiries. Lease rates have picked up to about Rs 55 a sq ft apart from Rs 7 a sq ft in operation and maintenance costs.

Tril Infopark is awaiting clearance from the authorities for the residential part which will have about 150 super premium residential apartments. A 2.7 lakh sq ft mall is also in the pipeline

[MadrasBoy]

Hey how can they not giving permission for the hotel. There is an SEZ in Hyderabad called Raheja Mindspace which has a star hotel in it.

[kannan infratech]

Originally Posted by MadrasBoy

Hey how can they not giving permission for the hotel. There is an SEZ in Hyderabad called Raheja Mindspace which has a star hotel in it.

SEZs benefit from No Tax No Duty regime. The hotels inside SEZs misuse this and buys materials for hotels without tax / duty. There is a big war going on between Finance and Commerce Ministries on this.

As per SEZ policy, 100% earning should be through exports and through Foreign Exchange.

Probably, they can allow Hotels with strict auditing of incoming and outgoing goods. They can also allow the hotel just outside the Bonded area to avoid misuse.

[MadrasBoy]

Thanks for the clarification. My only concern is that if we have an international convention center then we must also have a five star hotel which can support the functioning of the convention center. Otherwise it ll be very difficult to manage Big Events.

[ChennaiIndian]

Originally Posted by MadrasBoy

Hey how can they not giving permission for the hotel. There is an SEZ in Hyderabad called Raheja Mindspace which has a star hotel in it.

Only when it comes to Chennai, all rules in IPC, VaVuC, IPL, FIFA etc. will be invoked.

[neohistoryman]

ChennaiIndian, even with smileys and funny acronyms, these kind of comments are absurd and silly. How certain are you that Chennai is being targeted deliberately?

You may not necessarily have a siege mentality yourself and said the above truly in jest, but you are definitely provoking people to start responding to your comment. Do you want to start another argument this weekend?!

[ChennaiIndian]

I didn't mean to start any face-off.

If you are following TN threads for a while, you will know how many times people have commented on projects in Chennai and other parts of TN getting difficulties like environment clearances, economic policy clearances etc. So, my comment just sums up all that on a funny note.

[Kewl Batty]

Source


I guess the building in d background is IIT-m Research Park.

[Arul Murugan]

Good updates